European stock markets rise as oil prices retreat, providing a breather

(1) European stock markets rose on Friday as falling oil prices and an easing in the global bond sell-off provided some relief to investors. (2) The STOXX 50 index rose by 0.9% to 6,320 points, while the broader STOXX 600 index was up 0.7%. (3) Brent crude ended a two-day rally as reports emerged that the US and Iran are in talks about a phased agreement that could reopen the Strait of Hormuz and lift US blockades on Iranian ports. (4) On the economic data front, German consumer confidence deteriorated more than expected heading into October, as rising energy prices weighed on household income expectations.